Forbes Names World's Richest Chinese; Wang Jianlin Edges Out Li Ka Shing as Wealthiest Man
Yicai Global
/SOURCE : Yicai
Forbes Names World's Richest Chinese; Wang Jianlin Edges Out Li Ka Shing as Wealthiest Man

(Yicai Global) April 18 -- The China Rich List 2017 unveiled by Forbes shows Wang Jianlin, chairman of Dalian Wanda Group outranked Li Ka Shing to be the richest man in China. Forbes released the China Rich List 2017 yesterday. 486 billionaires are on the 2017 list, commanding 23.8 percent of the world total individual wealth.

Compared with 2015, 116 more billionaires have made it to the list, representing a 31 percent increase. Among the top 10 Chinese billionaires, four are from Hong Kong and the other six come from the Chinese mainland.

Wang Jianlin, chairman of Dalian Wanda Group, tops the list with a net asset of USD31.3 billion, which indicates 29.3 percent increase in individual wealth compared with 2015. The richest man in Hong Kong, business magnate, investor, and philanthropist Li Ka Shing takes the second place, USD100 million adrift of Wang's wealth.

The list shows among the three internet magnates in China, Robin Li, head of Baidu Inc. [NASDAQ:BIDU], saw his wealth declining to USD13.3 billion from USD15.3 billion in 2015 and could not make it to the list of top 10 Chinese billionaires. In contrast, the other two, Jack Ma and Pony Ma, boasted wealth growth. Jack Ma, board chairman of Alibaba Group Holding Ltd. [NYSE:BABA] ranks third with USD28.3 billion, with an increase of 24.6 percent in net assets; and Pony Ma, CEO of Tencent Holdings Ltd. [HKG:0700], takes the fourth place, up two places from 2015.

William Ding, CEO of Netease Inc. [NASDAQ: NTES] ranks sixth on the list. In recent two years, Ding's wealth has also doubled as with the mounting share price of Netease, which helped him edge into top 10 with 162.1 percent increase in net assets.

Another billionaire worth noting is Wang Wei, who has become one of the biggest beneficiaries from the listing of SF Express (Group) Co. [SHE:002352] this year. SF Express went public on Shenzhen Stock Exchange by means of backdoor listing in February. Wang ranks seventh with his wealth soaring by USD11.7 billion to reach USD15.9 billion compared with last year.

Regarding the breakdown of sectors in the list, real estate remains one of the industries producing most wealth to be followed by internet. Other industries includes raw material, electronic components, durable consumer goods and clothing industry.

Follow Yicai Global on
Keywords: China , HK , Business , Data , Wealth